PLAZA: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
PLAZA
Largest movements
- Receivables within one year +€1.3m
up €1.3m (+33.0%), from €3.9m to €5.2m
of which Other amounts receivable: +€1.3m
- Current investments -€474,000
down €474,000 (-11.8%), from €4.0m to €3.5m
- Cash -€383,891
down €383,891 (-53.6%), from €715,695 to €331,804
mainly Receivables within one year (-€1.3m) and Debts after one year (-€849,648)
- Tangible fixed assets -€370,309
down €370,309 (-3.2%), from €11.6m to €11.2m
of which Land and buildings: -€370,251
- Reserves +€968,851
up €968,851 (+17.7%), from €5.5m to €6.5m
of which Distributable reserves: +€1.0m
- Debts after one year -€849,648
down €849,648 (-5.3%), from €15.9m to €15.1m
of which Financial debts: -€835,180
- Gross operating margin +€375,184
up €375,184 (+18.7%), from €2.0m to €2.4m
- Financial charges +€82,685
up €82,685 (+12.1%), from €683,963 to €766,648
- Taxes +€80,384
up €80,384 (+30.5%), from €263,663 to €344,047
- Financial income +€36,880
up €36,880 (+14.2%), from €260,131 to €297,011
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,035,324 | €23,151,425 | +€116,101 | +0.5% |
| Fixed assets | 21/28 | €14,348,941 | €14,014,655 | -€334,286 | -2.3% |
| Tangible fixed assets | 22/27 | €11,618,956 | €11,248,647 | -€370,309 | -3.2% |
| Land and buildings | 22 | €11,590,398 | €11,220,147 | -€370,251 | -3.2% |
| Plant, machinery and equipment | 23 | €58 | €0 | -€58 | -100% |
| Furniture and vehicles | 24 | €28,500 | €28,500 | = | 0.0% |
| Financial fixed assets | 28 | €2,729,985 | €2,766,008 | +€36,023 | +1.3% |
| Current assets | 29/58 | €8,686,383 | €9,136,770 | +€450,387 | +5.2% |
| Amounts receivable within one year | 40/41 | €3,944,553 | €5,248,117 | +€1.3m | +33.0% |
| Trade receivables | 40 | €28,025 | €64,968 | +€36,943 | +132% |
| Other amounts receivable | 41 | €3,916,528 | €5,183,150 | +€1.3m | +32.3% |
| Current investments | 50/53 | €4,010,483 | €3,536,483 | -€474,000 | -11.8% |
| Cash at bank and in hand | 54/58 | €715,695 | €331,804 | -€383,891 | -53.6% |
| Deferred charges and accrued income | 490/1 | €15,652 | €20,366 | +€4,714 | +30.1% |
| Total equity and liabilities | 10/49 | €23,035,324 | €23,151,425 | +€116,101 | +0.5% |
| Equity | 10/15 | €5,499,214 | €6,468,064 | +€968,850 | +17.6% |
| Reserves | 13 | €5,485,883 | €6,454,734 | +€968,851 | +17.7% |
| Tax-exempt reserves | 132 | €1,235,883 | €1,182,268 | -€53,615 | -4.3% |
| Distributable reserves | 133 | €4,250,000 | €5,272,466 | +€1.0m | +24.1% |
| Profit (loss) carried forward | 14 | €13,331 | €13,331 | -€0 | 0.0% |
| Provisions and deferred taxes | 16 | €412,321 | €406,980 | -€5,341 | -1.3% |
| Provisions for liabilities and charges | 160/5 | €12,890 | €12,890 | +€0 | 0.0% |
| Pensions and similar obligations | 160 | €12,890 | €12,890 | +€0 | 0.0% |
| Deferred taxes | 168 | €399,431 | €394,089 | -€5,342 | -1.3% |
| Amounts payable | 17/49 | €17,123,789 | €16,276,381 | -€847,408 | -4.9% |
| Amounts payable after more than one year | 17 | €15,917,082 | €15,067,434 | -€849,648 | -5.3% |
| Financial debts | 170/4 | €11,650,905 | €10,815,725 | -€835,180 | -7.2% |
| Other amounts payable | 178/9 | €4,266,177 | €4,251,709 | -€14,468 | -0.3% |
| Amounts payable within one year | 42/48 | €1,206,707 | €1,208,947 | +€2,240 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €477,054 | €409,647 | -€67,407 | -14.1% |
| Trade debts | 44 | €87,738 | €84,080 | -€3,658 | -4.2% |
| Suppliers | 440/4 | €87,738 | €84,080 | -€3,658 | -4.2% |
| Taxes, remuneration and social security | 45 | €74,829 | €21,244 | -€53,585 | -71.6% |
| Taxes | 450/3 | €68,691 | €14,929 | -€53,762 | -78.3% |
| Remuneration and social security | 454/9 | €6,138 | €6,315 | +€177 | +2.9% |
| Other amounts payable | 47/48 | €567,086 | €693,976 | +€126,890 | +22.4% |
| Remuneration, social security and pensions | 62 | €28,481 | €31,679 | +€3,198 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €374,305 | €370,308 | -€3,997 | -1.1% |
| Other operating charges | 640/8 | €190,637 | €199,209 | +€8,572 | +4.5% |
| Gross operating margin | 9900 | €2,003,204 | €2,378,388 | +€375,184 | +18.7% |
| Operating profit (loss) | 9901 | €1,409,781 | €1,777,192 | +€367,411 | +26.1% |
| Financial income | 75/76B | €260,131 | €297,011 | +€36,880 | +14.2% |
| Recurring financial income | 75 | €260,131 | €297,011 | +€36,880 | +14.2% |
| Financial charges | 65/66B | €683,963 | €766,648 | +€82,685 | +12.1% |
| Recurring financial charges | 65 | €683,963 | €766,648 | +€82,685 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €985,949 | €1,307,556 | +€321,607 | +32.6% |
| Transfer from deferred taxes | 780 | €13,843 | €14,553 | +€710 | +5.1% |
| Income taxes | 67/77 | €263,663 | €344,047 | +€80,384 | +30.5% |
| Profit (loss) for the period | 9904 | €736,129 | €978,062 | +€241,933 | +32.9% |
| Transfer from tax-exempt reserves | 789 | €42,272 | €44,404 | +€2,132 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €778,401 | €1,022,466 | +€244,065 | +31.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.